Funding arb · Price arb /

AAVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.031%

Price spread now: Arcus against OKX+0.085%47s7-day average +0.033% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$320.324% of the position

Long on OKX Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.065%+$7 on $10k

Price spread, last 4 days (all we have)−0.068%−$7 · spread now +0.085%, 7d avg +0.033%

Together, before fees−0.003%$0 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Arcus is 0.052% dearer against OKX than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.033%. The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX AAVE-USDT-SWAP	140.88	0.0100	pay 0.0100% / 8h	23m 50s	$16.6M	$64.7M	50x
Short	Arcus AAVE-USD	141.00	0.0100	get 0.0013% / 1h	23m 50s	$91K	$221K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against OKX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee OKXbpFee ArcusbpOrdersPrice spread, now +0.085%Rate

Funding earned: $0
Price spread: +0.085% → +0.033%: $5.19
Slippage, 4 orders: −$17.86
Fee OKX: 5 bp × 2 orders: −$10
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$27.17
Costs to cover: 0.324%
Break-even: never at this rate

Slippage from OKX: live order book, 5 min ago; Arcus: live order book, 14 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy OKX live order book, 5 min ago	0.35 bp	8.7 bp −$9	13.6 bp −$136	78.7 bp −$7,873	doesn't fit
Sell Arcus live order book, 14 min ago	2.12 bp	8.0 bp −$8	24.0 bp −$240	doesn't fit	doesn't fit

AAVE on 42 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX AAVE-USD	0.0000%	1h	140.96	+0.055%	$101K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	140.90	+0.014%	$45K	$1.4M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	140.96	+0.057%	$213K	$392K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	140.92	+0.031%	$78K	—	150x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−2.783%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	140.89	+0.006%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0082%	8h	140.91	+0.021%	$17K	$8K	10x	as long as short
Lighter AAVE	+0.0096%	1h	141.03	+0.109%	$4.5M	$2.5M	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	140.85	−0.024%	$13K	$4K	20x	as long as short
Nado AAVE-PERP	+0.0100%	1h	140.85	−0.018%	$822K	$397K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid AAVE	+0.0100%	1h	140.99	+0.078%	$77.0M	$37.0M	10x	as long as short
Aster AAVEUSDT	+0.0100%	8h	140.87	−0.004%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVE	+0.0100%	1h	140.89	+0.008%	$328K	$391K	10x	as long as short
Binance AAVEUSDT	+0.0100%	8h	140.87	−0.007%	$63.1M	$191.4M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	140.90	+0.014%	$60.5M	$69.2M	75x	as long as short
OKX AAVE-USDT-SWAPlong	+0.0100%	8h	140.88	long leg	$16.6M	$64.7M	50x
Arcus AAVE-USDshort	+0.0100%	1h	141.00	+0.085%	$91K	$221K	10x
Bulk AAVE-USD	+0.0100%	1h	141.09	+0.148%	$163K	$106K	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	140.96	+0.057%	$8.0M	$16.5M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	140.93	+0.035%	$22.9M	$24.2M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	140.95	+0.050%	$10.1M	$9.5M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	140.87	−0.007%	$28.6M	$18.0M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	140.92	+0.028%	—	$43.6M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	140.88	−0.001%	$3.7M	$1.2M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	141.09	+0.152%	$108K	$282K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	141.16	+0.202%	$443K	$3.6M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	141.08	+0.142%	$131K	$220K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	140.96	+0.057%	$133K	$483K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	140.91	+0.021%	$1K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	140.92	+0.028%	$5K	$297K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	141.04	+0.115%	$666K	$5.3M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	140.95	+0.050%	$3.9M	$3.6M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	140.89	+0.005%	$910K	$1.8M	50x	as long as short
01 Exchange AAVEUSD	+0.0104%	1h	140.95	+0.050%	$10K	$2K	5x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	140.96	+0.053%	$119K	$146	10x	as long as short
Phoenix AAVE	+0.0152%	1h	140.98	+0.071%	$5K	$98K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	140.89	+0.007%	$3.3M	$3.5M	100x	as long as short
RISEx AAVE/USDC	+0.0245%	1h	140.91	+0.024%	$187K	$291K	10x	as long as short
Backpack AAVE_USDC_PERP	+0.0248%	1h	141.07	+0.135%	$384K	$732K	10x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0360%	1h	140.94	+0.041%	$110K	—	100x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0256%	1h	141.15	+0.192%	$751K	$2.7M	50x	as long as short
Kraken Futures PF_AAVEUSD	+0.0272%	1h	140.98	+0.071%	$3.3M	$2.1M	50x	as long as short